Financial Literacy Month – Resources for Life 

*Scroll to the end for more information on our Financial Literacy Learning Series, delivered through Facebook Live sessions.

Financial Literacy: Empowering Communities Through Knowledge

Since 2021, United for Literacy has expanded its Financial Literacy resources for children, youth, parents, and educators. We are proud to say that we now have a suite of excellent resources in English and French (as well as one guide that has been translated into Oji-Cree). These resources can be found on our web site, under resources

         (The covers of our Financial Literacy Guides, grade 4 to 12)

The Connection Between Financial Literacy and Numeracy

Financial Literacy is connected to numeracy skills. Numeracy is the ability to work with numbers–it is the set of math skills that you might use in real life. Most people gain numeracy skills through math classes in school and what they learn from their family. If you want to learn more about what math skills are taught at different grade levels, a good place to start is the Ministry of Education website for the province or territory that you live in.

For example, here is the website of the Ministry of Education of Ontario. From the homepage, navigate to the menu and select Education and Training. There, you'll find a wealth of information related to elementary and secondary schools, skills training, financial aid, and a host of other valuable resources.

Financial literacy is a key part of numeracy because the main way that most of us use math in real life is through money and finance. “Financial Literacy is the ability to understand and effectively use financial skills” (Fernando, 2021). Having strong financial literacy is important for a person’s financial, physical, and mental health, as well as their security, housing, and personal relationships.  

Essential Components of Financial Literacy

Financial Literacy includes: 

• Budgeting 
• Investing 
• Borrowing 
• Taxation 
• Personal Financial Management 

Empowering Through Education: United for Literacy Resources 

How can United for Literacy help you increase your financial literacy skills? Here are a few resources that you can find on the United for Literacy website: https://www.unitedforliteracy.ca/Resources. Although they are written for specific grades, they can be used by anyone–children, youth, adults, and seniors. It’s never too early or too late to better understand how money works. We all need to build our financial literacy skills and here are some fun ways to help you do that:  

• Grade 5: Managing Your Money: Weekly Budget 
• Grade 6: Creating Financial Goals 
• Grade 7: The Financing of Adulting 
• Monthly Budget Planner 
• Yearly Financial Planner 
• Grade 7: Debt and Investment Comparison Chart 
• Grade 9: Adjusting budget – for an individual, household, or business 
• Grade 10: One-year Financial Plan 
• Grade 10: Your Credit Score 
• Grade 11: The Business Cycle and You! Financial Planning 
• Grade 12: Financial Literacy Case Study–Managing School, Work, Family, and Finances 
• Grade 12: Choose a Job, Choose a Savings Goal 

Promoting Financial Literacy in Everyday Life

Financial literacy skills are used by everyone from all backgrounds and cultures. We all make financial decisions, whether big or small, every day, and these skills apply to everyone. However, the way we approach finances and spending habits often reflect our personal priorities. These priorities may be affected by where we live, who we hang out with, and the stage of life we are at. If you are teaching others about money and finances in any setting, it is important to take the time to understand your students’ lived experiences and the factors that influence their decisions to spend, save, or invest. 

Tips for Promoting Financial Literacy Within Your Community

Here are a few tips on how you can talk about financial literacy within your family or community:  

1. When you are getting ready to go shopping, compare prices at different stores by looking online or in flyers.  
2. Talk with others about what you spend money on each week.  
3. Talk about decisions or choices you are currently making or have made in the past.  
4. Talk about the importance of saving and how, by saving a bit each week or month, your money can grow.  
5. Talk about budgeting–discuss what you need and what you want. 
6. After talking about budgeting, discuss how you decide the amount of money to spend on what you want.  
7. Talk about where you can borrow money from and how interest rates affect how much you need to pay back. For example, compare borrowing $1,000 from a bank or using a credit card.  
8. Talk about different ways of investing money, the varying levels of risk, and what works best for people in different situations. For example, younger people tend to make more risky investments than older people who are close to retirement or are retired.  

Join Us for the Financial Literacy Learning Series

During Financial Literacy Month in November 2023, United for Literacy will host a three-week Financial Literacy learning series on Facebook Live. We designed free financial literacy resources that were funded by the Ontario Ministry of Education. They are aligned with the Ontario curriculum, are engaging, and are relevant for all. These resources can help you build financial literacy skills in a fun and understandable way. The Lives will be hosted by Kris and Ellie, resource development advisors at United for Literacy. 

Why should people join us? 
Young people are saying they want the skills to manage their money in the future. Parents feel they lack the resources and know-how to teach their children about finances. Schools across Canada are adding financial literacy to their curriculum. Financial literacy is important, but most people don’t know where to start. 

Calling All Teachers: Enhance Your Classroom Experience 

Do you want to enrich your students' financial literacy learning experience? Participate in a financial literacy activity with us in real time by broadcasting the Facebook Lives in your class, or ask your youngsters to join us on their devices. We’ll see you there!

Here’s the detailed agenda of the upcoming Facebook Lives:

November 9 @ 10:30am  
Budgeting: From Basic to Advanced  
Elementary (10:30am): Grocery shopping with a budget!  
Middle School (10:45am): Creating a monthly budget  
High School (11:00am): Adjusting a monthly budget 

November 16 @ 10:30am 
Investing for Young People   
Elementary (10:30am): Investing for our youngest learners  
Middle & High School (10:45am): Why invest when you’re young? Because of compound interest! 

November 23 @ 1:30pm 
Credit Cards and Debt 
Elementary (1:30pm): A credit card is debt!  
Middle and High School (1:45pm): Take charge of your credit card repayment using an interactive tool! 
Join us. Here’s the link to the Facebook events detailing each Live. Click on “interested” and you’ll receive a reminder on the day of the Live. Click here to access our Facebook event page. 

A question about our upcoming Facebook Lives? Contact Ellie or Kris!

Ellie Chan, OCT, M.Ed. - Resource Development Advisor - Financial Literacy, [email protected]
Ellie taught middle and high school math in Canada and the U.S.A., where she worked with students facing high barriers to learning. She was also a social worker for youth who were precariously housed, supporting them through financial literacy education. Ellie holds a Master of Education from UCLA, where she developed as a social justice educator who is passionate about culturally responsive teaching and growth mindset.

Kris Knutson, OCT, Ph.D.  - Resource Development Advisor - Financial Literacy, [email protected]
Kris has nearly 20 years of teaching experience in Canada, Mexico, and Asia. His PhD research focused on financial literacy in classrooms. He received his bachelor’s degree in linguistics and economics from McGill University. Kris wrote investment articles for financial publications including the Motley Fool Canada. He is passionate about financial literacy education instruction in schools.

-- Maureen Anglin, Regional Director, Ontario